American Eagle Announces Nominations Open for Cash Back to the Community Program
American Eagle Financial Credit Union invites its members and the general public to nominate qualified, local nonprofit organizations to be considered for its participatory funding program, Cash Back to the Community.
Nominations for American Eagle’s Cash Back to the Community funding runs from April 27, 2020 - May 17, 2020, at americaneagle.org/cashbacktothecommunity. An organization only needs to be nominated once to be included on the second quarter ballot. Voting to decide the top three qualified nonprofit organizations takes place from June 7-June 21. The three recipients that received the most votes will be announced by the end of June.
American Eagle’s Cash Back to the Community donates 1% of its credit and debit card interchange income in each quarter to three nonprofit and/or 501(c)(3) organizations that receive the most votes from its members and the public.
“Cash Back to the Community is a wonderful and effective way for our members and the general public to play an active role in our philanthropy efforts throughout Connecticut,” said Dean Marchessault, president and chief executive officer of American Eagle Financial Credit Union. “And, people have really taken to the program. Last quarter, nearly 160 organizations were nominated and 1,410 total votes were cast as we gave away nearly $21,000 to three worthy nonprofit organizations.”
Funding for Cash Back to the Community is generated each time its members use an American Eagle Financial Credit Union credit or debit card. At the end of each quarter, one percent of the total interchange income – the fee paid for credit and debit card transactions – will be distributed to the three top qualified nonprofits.
Early Childhood Collaborative in Southington, Furry Animals Being Saved Rescue in Tolland, and Friends of Feeney in West Hartford each received a donation of $6,847 for earning the most votes in AEFCU’s first quarter Cash Back to the Community program.